Charity Registration No. 1161366
Company Registration No. 09136891 (England and Wales)
UK GIVES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
UK GIVES LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr J Bonder |
|---|---|
| Mrs N Smith | |
| Mr R Mendel | |
| Charity number | 1161366 |
| Company number | 09136891 |
| Registered office | 483 Green Lanes |
| London | |
| N13 4BS | |
| Independent Examiner | Danan Sarzin Chartered Accountants |
| International House | |
| 24 Holborn Viaduct | |
| London EC1A 2BN | |
| Bankers | Lloyds Bank Ltd |
| 188-190 Breck Road | |
| Liverpool | |
| L5 6PX |
UK GIVES LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent Examiner’s report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Statement of cash flows | 7 |
| Notes to the financial statements | 8 - 13 |
UK GIVES LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2023
The trustees present their report and financial statements for the year ended 31 July 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The purpose of the charity is to advance such charitable purposes (according to the law of England and Wales) for the public benefit as the trustees see fit from time to time.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
To this end, we have worked to raise awareness and support for outstanding charitable causes within the United Kingdom and outside of it, in accordance with the guidelines provided by the Charity Commission and by the HMRC.
Applications received for grant funding are considered and determined in accordance with the charity's Grant Making Policy Statement which is reviewed annually.
The charity has worked to provide a public audience, through its web activities and platforms, for causes that it has identified as outstanding and worthy of support. The charity also provides its platform for supported causes to use to promote themselves and to raise funds.
Over the course of the year, we successfully supported 41 outstanding causes and programs.
We aim to be a leading marketing and fiscal channel for learning about and supporting outstanding charitable causes.
We measure our success according to the funds that we raise in the reporting period.
This fiscal year 98% of the revenue that we collected was invested in programs and as donations for the charitable causes and programs that we support. We collected our revenue largely from online fundraising channels and platforms, and by partnering with leading UK charities.
Our trustees serve as volunteers and empower the activities of the charity.
Achievements and performance
This year we have supported 41 outstanding programs. The total incoming donations received was £472,695 (2022: £482,192) and total value of outgoing donations and program expenditures was £461,447 (2022: £467,132).
The impact on the beneficiaries was substantial – over 470,000 pounds raised to support charitable activities, and thousands of UK citizens receiving the opportunity to learn about and become partners with outstanding charitable missions and projects.
All of this was achieved with a bare minimum of investment in fundraising and operations, and an extremely small expense to the taxpayer in terms of Gift Aid.
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UK GIVES LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
Financial review
The total funds held at the end of the reporting period were £103,834 (2022: £92,586), all of which are unrestricted funds. Annually, we spend less than 2% of revenue on overhead and operational expenses and have no commitments to third parties or to donors. We feel confident that this amount of funds will suffice to cover all obligations and to ensure our fluid and continual operations.
The charity has no salaried employees and only spends funds that it has received and that are unrestricted.
In the upcoming reporting period, we anticipate a positive net cash flow of individual donations, as well as substantial support from charitable foundations.
Plans for future periods
In the upcoming year we plan to largely continue performing the same activities as in past years. Past experiences have taught us what activities work best in terms of raising funds and in terms of charitable impact, and we will continue in the same direction of activity in order to continue to see the same success as we experienced this year.
Structure, governance and management
The charity is governed by its Articles of Association dated 17 July 2014. The directors, who also act as trustees, are appointed in accordance with the charity’s constitution.
We recruit new trustees out of a pool of trusted confidants and outstanding business leaders. Our trustees serve as volunteers and collectively make decisions.
The charity partners with Israel Toremet Limited to handle administrative tasks for the charity, as well as due diligence and oversight of charitable projects when performed overseas. Israel Toremet Ltd is owned by a trustee, Jonathan Bonder. This company does not receive payment from the charity for the services that it provides the charity.
All major risks have been reviewed and systems or procedures have been established to manage those risks.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr J Bonder
Mr N Smith
Mr R Mendel
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UK GIVES LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
Statement of trustees' responsibilities
The trustees, who are also the directors of UK Gives Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provision
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
The trustees' report was approved by the Board of Trustees.
Mr J Bonder
Trustee Dated: 23 May 2024
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UK GIVES LIMITED
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF UK GIVES LIMITED
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jonathan Danan Danan Sarzin International House 24 Holborn Viaduct
May 2024
London EC1A 2BN
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UK GIVES LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2023
| Notes Income from: Donations and legacies 2 Expenditure on: Charitable activities 3 Net income for the year Fund balances at 1 August 2022 Fund balances at 31 July 2023 |
Unrestricted funds 2023 £ 472,695 461,447 11,248 92,586 103,834 |
Total 2022 £ 482,192 |
|---|---|---|
| 467,132 | ||
| 15,060 77,527 |
||
| 92,586 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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UK GIVES LIMITED
BALANCE SHEET
AS AT 31 JULY 2023
| 2023 Notes £ Current assets Cash at bank and in hand 106,595 Debtors:amounts falling due within one year -other debtors 3,032 Creditors:amounts falling due within one year 8 (5,093) Net current assets Income funds Unrestricted funds General funds 9 106,834 |
£ 103,834 103,834 |
2022 £ £ 97,679 - (5,093) 92,586 92,586 92,586 |
|---|---|---|
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on May 2024
Mr J Bonder Trustee
Company Registration No. 09136891
6
UK GIVES LIMITED
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2023
Notes Cash flows from operating activities Cash generated from operations 12 Net cash used in investing activities Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2023 £ 8,916 - - 8,916 97,679 106,595 |
2022 £ 15,060 - - |
|---|---|---|
| 15,060 82,619 |
||
| 97,679 |
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UK GIVES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
Charity information
UK Gives Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 483 Green Lanes, London, N13 4BS.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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UK GIVES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Donations and legacies
| Donations and gifts 3 Charitable activities Grant funding of activities (see note 4) Share of support costs (see note 5) Share of governance costs (see note 5) |
Unrestricted funds 2023 £ 472,695 2023 £ 448,819 9,198 3,430 461,447 |
Total 2022 £ 482,192 |
|---|---|---|
| 2022 £ 460,498 4,474 2,160 |
||
| 467,132 |
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UK GIVES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
| 4 Grants Paid Grants to Institutions: Yesodot Letzmicha Yad Ezra V'Shulamit IsraelGives Foundation Keren Talpad La’Ofek — Hope for the Future LATET - Israeli Humanitarian Aid The Legal Forum for Israel Friends of M.D.A in Israel Melabev - Specializing in Eldercare and Alzheimer's care Orr Shalom for Israeli Children at Risk Bezalel Academy of Arts and Design Jerusalem Israel Rugby Union StandWithUs Hatzala Beit Shemesh ALYN Hospital: Pediatric & Adolescent Rehabilitation Center IsraAID Association of Ethiopian Jews World Emunah Keren Hayesod – United Israel Appeal The Torah and Nature Foundation Yiboneh Jerusalem Nevet Shurat HaDin - Israel Law Center Druze Youth Movement Association in Israel Panim el Panim Ten Gav Zulat- for Equality and Human Rights Tel Aviv Sourasky Medical Center - Ichilov Hospital The Haifa Foundation Ateret Cohanim Lubavitch Centre for Aliyah IDF Widows and Orphans Organization Other Charities-Accumulated |
2023 £ 51,282 47,630 31,345 28,046 27,851 25,025 25,000 22,301 16,120 14,769 13,482 12,099 10,610 9,819 9,749 9,139 8,216 7,449 6,771 5,458 5,409 5,221 5,122 5,000 3,200 2,542 - - - - - - 40,161 448,816 |
2022 £ 6,369 52,031 4,856 5,156 10,000 24,723 58,000 - 10,621 5,678 - - - 14,437 - - - - - - - 4,938 - - 11,449 7,307 57,092 35,000 25,000 20,000 7,704 7,609 92,526 |
|---|---|---|
| 460,498 |
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UK GIVES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
| 5 Support costs Legal expenses Independent Examiner’s fee Bank charges Moto expenses Telephone Office equipment and software Travel expenses Sundry expenses Analysed between Charitable activities |
Support costs £ - - 3,725 18 153 4,519 663 120 9,198 9,198 |
Governance costs £ 570 2,860 - - - - - - 3,430 3,430 |
2023 £ 570 2,860 3,725 18 153 4,519 663 120 12,628 12,628 |
2022 £ - 2,160 4,272 - - - - 202 |
|---|---|---|---|---|
| 6,634 | ||||
| 6,634 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Employees
There were no employees during the year.
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UK GIVES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
8 Creditors: amounts falling due within one year
| Other creditors Accruals |
2023 £ 5,093 700 5,793 |
2022 £ 5,093 - |
|---|---|---|
| 5,093 |
Unrestricted funds
| Balance at 1 August 2022 £ General funds 92,586 92,586 |
Movement in funds Incoming resources Resources expended Balance at 31 July 2023 £ £ £ 472,695 461,447 103,834 472,695 461,447 103,834 |
|---|---|
10 Analysis of net assets between funds
| Unrestricted funds 2023 £ Fund balances at 31 July 2023 are represented by: Current assets 103.834 103.834 |
Total 2023 £ 103,834 103.834 |
Total 2022 £ 92,586 |
|---|---|---|
| 77,527 |
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UK GIVES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
11 Related party transactions
Other creditors of £5,093 (2022: £5,093) constitute amounts owed to "Israel Toremet Limited", a company incorporated in Israel of which Mr Bonder, one of the Trustees, is a director.
| 12 Cash generated from operations Surplus for the year Movements in working capital: Increase in creditors Cash generated from operations |
2023 £ 11,248 (2,332) 8,916 |
2022 £ 15,060 -- |
|---|---|---|
| 15,060 |
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